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Top 10 at 10: Tesserent surges 150pc after $176 million takeover by French multinational Thales
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Stockhead’s Top 10 at 10, published at ~10.30am each trading day, highlights the best (and worst) performing ASX stocks in morning trade using live data.
It’s a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms.
The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Security | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| AHI | Advanced Health | 0.4 | 371% | 1,711,239 | $16,762,337 |
| TNT | Tesserent Limited | 0.1225 | 150% | 14,856,023 | $66,354,924 |
| AZS | Azure Minerals | 0.94 | 50% | 5,974,765 | $243,897,545 |
| OAU | Ora Gold Limited | 0.003 | 50% | 246,838 | $7,873,850 |
| YPB | YPB Group Ltd | 0.003 | 50% | 1,837,527 | $1,238,498 |
| AJQ | Armour Energy Ltd | 0.004 | 33% | 317,467 | $14,764,026 |
| AMD | Arrow Minerals | 0.004 | 33% | 75,000 | $9,071,295 |
| SCU | Stemcell United Ltd | 0.004 | 33% | 830,977 | $3,854,189 |
| ARV | Artemis Resources | 0.014 | 27% | 7,679,256 | $17,269,102 |
| AUH | Austchina Holdings | 0.005 | 25% | 404,907 | $8,311,535 |
Melbourne-headquartered cyber security firm Tesserent (ASX:TNT) is up 150% in early trade after announcing it will be taken over by French multinational Thales for an equity value of $176 million.
TNT ad Thales have entered a binding scheme implementation deed (SID) for a purchase price of 13 cents/share, which is a 165.3% premium to the closing price on Friday.
Thales has advised the TNT business will continue to be known as Tesserent, and its visual identity will incorporate the “Cyber Solutions by Thales” tagline.
The TNT board unanimously recommends shareholders vote in favour of the deal at an anticipated meeting in September.
Also up on the winners list in early trade is Azure Minerals (ASX:AZS) after announcing broad intersections of high-grade lithium mineralisation have been returned from seven of the first eight diamond holes testing pegmatites at its Andover Project.
Among highlights of the first batch of assay results from the lithium-focused drilling were broad mineralised intersections 105.0m @ 1.26% Li2O from 256.3m in ANDD0208 including: 42.1m @ 2.51% Li2O from 259.0m, which includes 22.8m @ 3.57% Li2O including 0.50m @ 5.02% Li2O – its highest individual Li20 assay to date.
AZS owns the Andover nickel-copper sulphide project in WA’s Pilbara region in a 60-40 JV with the Creasy Group.
“These results highlight the exceptional thickness and high grades of lithium mineralisation within the Andover pegmatites, and the potential for Andover to host lithium resources of world-class scale and tenor,” AZS MD Tony Rovira said.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| GCR | Golden Cross | 0.002 | -33% | 15,000 | $3,291,768 |
| FFF | Forbidden Foods | 0.012 | -25% | 2,365,545 | $2,127,689 |
| ROG | Red Sky Energy | 0.003 | -25% | 400 | $21,208,909 |
| CTO | Citigold Corp Ltd | 0.004 | -20% | 300,000 | $14,368,295 |
| DCX | Discovex Res Ltd | 0.002 | -20% | 114,999 | $8,256,420 |
| GTG | Genetic Technologies | 0.002 | -20% | 60,000 | $28,854,145 |
| S3N | Sensore Ltd | 0.25 | -17% | 10,050 | $8,449,120 |
| C7ADB | Clara Resources | 0.04 | -17% | 125,600 | $7,384,058 |
| TZL | TZ Limited | 0.02 | -17% | 1,000 | $6,064,995 |
| EPM | Eclipse Metals | 0.011 | -15% | 311,321 | $26,364,777 |
